Considering the current situation between Russia and Ukraine, it is important to pay attention to potential circumstances that may arise from an escalation of the crisis. Together, Russia and Ukraine account for about 29% of global wheat production and exports. Ukraine is the largest wheat producer in the European continent and a major producer of corn and sunflower oil. Additionally, many European countries import natural gas from Russia. Such a large production and export of wheat as a basic food product, as well as natural gas, would inevitably be affected in the event of an escalation of the crisis in Ukraine and the imposition of sanctions on Russia. If we recall 2014, the international wheat price increased by 20% at the time of Russia’s annexation of Crimea. A potential escalation of the crisis there would seriously jeopardize global food security. Despite declarative commitments by Western countries to work together to ensure that this disruption does not occur, the likelihood is real that the reduced supply will raise global food prices. Thus, to the ongoing energy crisis, a food crisis may be added. Most countries in the Middle East, China, and North Africa import and depend on wheat, corn, and sunflower oil production from Russia and Ukraine. In case of shortages, demands will shift to other countries, which would inevitably impact price increases for these products, as well as energy prices in Europe. Although the future remains uncertain, it is crucial that the Government of Kosovo takes the possibility of a potential crisis seriously. It is also necessary to inform citizens correctly and accurately to avoid dangerous situations caused by fake news and panic that may create confusion. Considering also the consequences of the Covid-19 pandemic and the price increases that have already occurred for both food products and energy, urgent attention to this situation is very important.
February 23, 2022